If it weren't for a plethora of scam coins fooling newbies/newcomers and even guys with 2-3 year experience in cryptos, XMR would have had enjoyed lofty high valuations even now. It's a shame that money is always tied up chasing bad decisions and investments, crypto or otherwise.
What I don't understand is where are all the people who lost money on P&Ds? Why do we never hear from them? The problem right now is I only read in this Altcoin Discussion forum about how excited people are about having bought some altcoins low and selling them for multi-baggers. I don't ever hear from the people who lost money. Where are they? Where did they go? To me this is easy to answer. They left the scene altogether. Probably, but I think it's easy to forget how few of us (real people) there are in a sea of scammers and shill accounts all trying to defraud one another. Additionally, there's a difference between people who are generally interested in cryptocurrency and its future and those who simply want to make money trading it. The latter tend to get bored and disappear after losing their shirt a couple times. |
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Please define "ripping people off" unambiguously such that all those on the OP's list FACTUALLY qualify but Evan doesn't.
In most scams you can say a) What the scam is b) What is the financial size of the scam c) Who are the victims of the scam / Who got ripped off d) How much did the victims lose Except for ponzi/pyramid related schemes, in which case every scammer claims there are no victims. |
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Do you know iCEBREAKER is Eduardo the HASHFAST scammer who is a big time supporter of Monero yet you didn't mention he's name ever?
What's your point? That Monero is no good because iCEBREAKER uses it? Is Bitcoin no good because of all the people on this list use it? |
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Evan Duffield is perhaps among the worst on the list, precisely because his victims don't even realize they're such. Because of this, he always has a groupie/follower show up to defend him and his cult anytime somebody has anything negative to say.
Dash was listed on coinmarketcap as "pre-mined" for maybe a day or two before enough Evan followers complained and had the label removed.
And to preemptively respond to AlexGR, his victims are every person who has ever used Dash thinking their transactions would be private or untraceable. He's a snake oil salesman.
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He's apparently on vacation... poor guy can't disappear for 2 days without the thread spiraling into chaos. |
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No all i see is 5 hours of work done a week so monero GUI will be released 30 weeks from now
How much have you contributed to grease the wheels? |
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Those who saved their money in Bitcoin from $1 to $8 and then stopped because they didn't want to be 'overweight in Bitcoin' surely regretted it. The smart ones bought Bitcoin all the way up to $30 and then all the way down to $2, and then back up.
Nonsense. They're only smart with the hindsight of an $1100 ATH. Had the price dropped below $1 and never returned, you probably wouldn't be calling them smart. Foolishness working out in your favor doesn't make you less foolish. |
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Given my hypothesis has already been proven by actual events, I don't see how it's a disputable statement, unless you narrow the definition of "technological failure" until it excludes upgrade fiascos resulting in chain forks. Perhaps we should explicitly define "technological failure" as only events which take down both BTC and LTC. Then you get to be right by circular logic, which is pretty much exactly what you were trying to do in a more subtle manner.  If a chain fork is your idea of a black swan technological failure, then I guess you have nothing to worry about, because the worst has already happened  Do as you wish. |
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Of course I can't predict how Bitcoin might fail, which is why I wouldn't choose a coin that's 95% identical to serve as a backup. And yes, considering how similar they are, I will presume that any theoretical failure in Bitcoin will also affect LTC.
Your presumption is empirically denied. I even mentioned it and you quoted it, but then glossed right over it in the rush to confirm and reiterate your bias. I'll try bolding it; maybe that will help. I saw your comment. A chain fork (and resulting market behavior) is not evidence that LTC will withstand a technological failure that Bitcoin cannot. For many coins, suitability for backup is their most important merit. You can't commend on them separately.
Litecoin has on occasion already provided stability (ie acted as a suitable backup) when Bitcoin threatened/suffered catastrophic consensus failure, and the markets responded accordingly. But we've never seen them both experience simultaneous downtime. That scenario only exists in your personal Imaginationland.
And hopefully it will stay in my imaginationland  but I'm not going to assume it can't happen. Regardless of all that, your quest for a suitable Bitcoin backup is now ended. Monero shares none of Bitcoin's code, uses a different PoW, and doesn't depend on Secp256k1.  Agreed! Except XMR doesn't have a transparent ledger, so it wouldn't be a perfect drop-in replacement for Bitcoin in my hypothetical black swan scenario. I like smooths idea of an XMR clone with ring sigs stripped out. |
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If we advocate Bitcoin (read: crypto e-cash) becoming a critical system, how can we not also advocate multiple redundant backup systems?
Your "LTC as a backup" argument has never made sense to me. LTC would fail as a backup because it offers no security balance, and will suffer the same hypothetical fate as its bigger brother. Think about it: if the bitcoin network were suddenly brought to its knees, how would anyone be safer in LTC? AEON backing up XMR is equally absurd. I also mentioned BBR/XCN as possible/logical XMR backups, yet you pointedly failed to mention them. Any reason for that omission? No reason. BBR and XCN would be just as unsuitable. I'm not commenting on the merits of any coin, just stating whether or not I think they'd make a suitable backup. Sorry, I can't parse "security balance" or understand why such a thing would overrule the market, which has put the upper bound of LTC value at something over $30 each and consistently awards LTC a market cap in the $100s of millions.
LTC uses a different blockchain and proof-of-work and github (etc) than BTC; why wouldn't it be safer when BTC black-swans?
If by "etc" you mean "nothing else" then I agree with you. LTC has a different proof-of-work. Any black swan event unrelated to the PoW and LTC is equally vulnerable. A suitable backup would be a cryptocurrency that shares none of Bitcoin's code, uses a different PoW, and doesn't depend on Secp256k1. Are there any non-scam, transparent-chain coins with those characteristics? I honestly don't know/never checked. Were you here that time BTC has an itsy-bitsy little chain fork and LTC instantly absorbed the FUD? I was, and so were a lot of other people. We're not going to forget that, no matter how impressively many zeros BTC adds to its uptime.
Then there is the fact many (especially in China) see BTC and LTC as Coke and Pepsi. They don't need to understand my "LTC as a backup argument" because they don't even see LTC as an altcoin.
Obviously the market sees value in LTC. I'm not disagreeing with you on that. I only disagree that LTC would make a suitable backup to Bitcoin. Since you can't tell us how Bitcoin is going to fail, please don't presume to also assert that unknown, theoretical failure mode would necessarily be occupied by Litecoin or any (non-merged-mined) altcoin as well.
Of course I can't predict how Bitcoin might fail, which is why I wouldn't choose a coin that's 95% identical to serve as a backup. And yes, considering how similar they are, I will presume that any theoretical failure in Bitcoin will also affect LTC. |
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If we advocate Bitcoin (read: crypto e-cash) becoming a critical system, how can we not also advocate multiple redundant backup systems?
Your "LTC as a backup" argument has never made sense to me. LTC would fail as a backup because it offers no security balance, and will suffer the same hypothetical fate as its bigger brother. Think about it: if the bitcoin network were suddenly brought to its knees, how would anyone be safer in LTC? AEON backing up XMR is equally absurd. |
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On reddit, fluffypony says: We contacted them, they told us what we needed to do. It basically consisted of signing a Contributor License Agreement, submitting a PR to the Azure templates Github repo, and sending them a write-up. Took us like 3 or 4 hours:)
All the altcoins saying that Microsoft is "partnering" with them are being disingenuous - you are a partner inasmuch as you have a BizSpark account and signed a CLA.
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Wow, what a failed fork. Difficulty FUCK-UP, no blocks in the last 20+ min... universal-pool not compatible ....
FUCKING AMATEUR DEVS!!!
Right on schedule, primer-! what does that mean? He's our basement troll. He never misses an opportunity to scream incompetence. As soon as the issue is resolved, he disappears for another month. |
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Wow, what a failed fork. Difficulty FUCK-UP, no blocks in the last 20+ min... universal-pool not compatible ....
FUCKING AMATEUR DEVS!!!
Right on schedule, primer-! |
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http://moneroblocks.info/ looks good. But, as Primer pointed out... maybe there's still some issue even with 0.9.1 wallets and mining.... try to upgrade to 0.9.3 and resync? or maybe your pool was linked to a peer that submitted and old style block? not sure if version exclusions were added to the code without looking at it.... for some reason moneroblocks.info shows double the HR I noticed that as well... it doubled at 1009827. I'm assuming it's an error? |
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5 blocks until the fork... hold on to your butts.
Edit: Aaand we're good. Did the hashrate just double?
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Now (with current volume as high as it is) is the appropriate time to bug the folks at Kraken about offering XMR trading pairs.
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ETH up to 0.029. Will XMR price move up accordingly?
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Damnit science! Why u no let us teleport!?
If we could teleport cash, we wouldn't need Monero in the first place. And with cash restrictions on the rise, exploring other methods of acquiring crypto "off the books" may be necessary. In the meantime, I'd say focusing more on creating coinbase-like fiat exchange services will get us further. |
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It certainly appears that XMR follows ETH... everytime I look it's almost exactly 1/10th the price.
BTW: I miss primer-
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